Japan edges towards zero bound
The Bank of Japan (BoJ) cut its interest rate to as low as 0% on Tuesday and announced a further ¥5 trillion ($60 billion) of bond purchases.
The BoJ lowered its benchmark uncollateralised overnight call rate to a range of 0 to 0.1% from 0.1%. The central bank also said it was setting up of an asset purchase program worth ¥5trillion to buy a variety of financial assets over the next year. The central bank also signaled its intent to keep the policy rate at around zero until it thought medium- to
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